Canada Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029

Canada Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029

The Canada Road Freight Transport Market size is estimated at USD 40.15 billion in 2024, and is expected to reach USD 49.97 billion by 2029, growing at a CAGR of 4.47% during the forecast period (2024-2029).

Key Highlights

• Largest Segment by Distance - Long Haul : Due to increased trade activity with neighboring countries, Canadian long-haul truck drivers have continued to be in high demand and account for a larger market share.
• Largest Segment by Product Type - Solid Goods : The majority of goods transported in Canada are in solid form. Only a few categories, such as oil, beverages, and chemicals, are considered within the liquid goods segment, which makes up a much smaller share. As a result, solid goods dominate the product type segment in the Canadian road freight transport market.
• Largest Segment by End User - Wholesale and Retail Trade : The wholesale and retail industry accounted for the largest end-user share in the Canadian road freight transport market and contributed around 10.59% to the country's GDP in 2021.
• Fastest Growing Segment by TruckLoad Specification - Less than Truckload : Less-than truckload is the fastest-growing segment in the market as e-commerce retail sales have been soaring in Canada in line with the COVID-19 pandemic.

Canada Road Freight Transport Market Trends

Wholesale and Retail Trade is the largest segment by End User.

• In 2020, the end-user segment of road freight transportation experienced a decline of 6.86% YoY due to a decrease in demand for goods and the restrictions on transportation imposed by the government of Canada to curtail the spread of COVID-19. In 2020, the wholesale and retail trade segment had the maximum share of road freight transport in Canada, of around 31.42%, and reached 76.225 billion ton km in volumes, followed by the manufacturing sector with a share of 24.12%, reaching 63.135 billion ton km in volumes.
• However, in 2021, the end-user segment of road freight transportation experienced a recovery of around 7.90% YoY in volumes, as the economies of Canada and worldwide recovered from the first wave of COVID-19. In 2021, the wholesale and retail trade segment had the maximum share, closely followed by the manufacturing sector. During the study period (2016-2021), the wholesale and retail trade segment was the only sector to overall register a CAGR of 2.55% in volumes and 6.38% in value (USD). Also, in value (USD) terms, the construction sector witnessed a CAGR of 2.93%, followed by manufacturing with a CAGR of 1.27%.
• To facilitate the timely delivery of these end-user products, the length of roads increased over the years to further facilitate the lead times taken for the delivery. Many products are perishable in nature. Hence, the increased focus on infrastructure construction further benefits the operational cost of the manufacturing and trucking industries. The length of roads in Canada increased from 841550.06 kilometers in 2016 to 1066700.51 kilometers in 2021, registering a CAGR of 4.86%.

Canada Road Freight Transport Industry Overview

The Canada Road Freight Transport Market is fragmented, with the top five companies occupying 13.87%. The major players in this market are Day & Ross, Deutsche Post DHL Group, FedEx, Mullen Group and Ryder Systems (sorted alphabetically).

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• The market estimate (ME) sheet in Excel format
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